Quant Broking to raise $100 m from strategic investors
Published on Tue, Aug 26, 2008 at 15:17 | Source : CNBC-TV18
Updated at Wed, Aug 27, 2008 at 10:54
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Quant Broking to raise $100 m from strategic investors
Quant Broking is in its final stages to raise USD 100 m from strategic investors. It is likely to raise USD 50 m in the first stage, and will dilute close to 40% of its equity. This deal values Quant Broking at close to USD 120 m.
Quant Broking is in its final stages to raise USD 100 million from strategic investors. It is likely to raise USD 50 million in the first stage, and will dilute close to 40% of its equity. This deal values Quant Broking at close to USD 120 m.
Quant Broking is an unlisted company that specialises in complex financial equity products.
Sandeep Tandon, MD & CEO, Quant Broking confirmed that the deal is to be finalized with two strategic investors. Tandon said "At Quant, we believe objectivity is god and we like to portion this firm in terms of covering it from fundamental, i.e. quantitative research and behavioural analysis. We like to cover it from all three aspects. With respect to market share, we have close to 43-44,000 in terms of volumes in the last three months; and close to 5% in FII segment."
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